Fidelis Energy Inc. - Well Completion Begins - 500 Beiträge pro Seite

[wayne99]

Press Release Source: Fidelis Energy Inc.


`Archer-Wildlands #1` Well Completion Begins
Tuesday August 2, 9:00 am ET


TUCSON, Ariz.--(BUSINESS WIRE)--Aug. 2, 2005--Fidelis Energy Inc. (OTCBB: FDEI - News), today is pleased to announce that the completion program at the "Archer-Wildlands #1" gas well has begun. The completion rig arrived at the North Franklin Project site yesterday. The perforation of the Winters gas pay zone will be done tomorrow, Aug. 3, following which, the well will be flow tested and tied in to the existing gas pipeline infrastructure.
The operation is estimated to take three to four days. After the well is tied in, Fidelis will have two producing gas wells in the North Franklin reservoir. On Monday, the PGE-Citygate gas pricing from North Franklin production was quoted at $7.14 per Mcf.

Fidelis has posted recent photos of the North Franklin Project in the "Photo Gallery" section of the Web site. These include drilling of the "Archer-Wildlands #1" well and the production facilities at the "Archer-Whitney #1" well location. These pictures can be viewed at www.fidelisenergy.com.

About Fidelis Energy Inc.

Based in Tucson, Ariz., Fidelis Energy is an oil and gas company dedicated to solving North America`s complex energy problems. Fidelis Energy identifies, acquires and develops working interest percentages in smaller, underdeveloped oil and gas projects in California, Canada, and other promising locales that do not meet the requirements of larger producers and developers. Through the use of modern development techniques such as horizontal drilling and 3-D seismic, the company enhances production from underdeveloped and underutilized projects, as it pursues oil and gas production throughout North America.

Safe Harbor for Forward-Looking Statements

Except for statements of historical fact, the information presented herein constitutes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include general economic and business conditions, the ability to acquire and develop specific projects, the ability to fund operations and changes in consumer and business consumption habits and other factors over which Fidelis Energy Inc. has little or no control.

For more information, please visit our Web site at www.FidelisEnergy.com, or contact:

Investor Relations 888-894-3334 (Contact: William Marshall)



--------------------------------------------------------------------------------
Contact:
Fidelis Energy Inc., Tucson
William Marshall, 888-894-3334 (Investor Relations)
www.FidelisEnergy.com



--------------------------------------------------------------------------------
Source: Fidelis Energy Inc.

[wayne99]

Press Release Source: Fidelis Energy Inc.


Fidelis Reports `Archer-Whitney #1` Gas Production for July
Wednesday August 3, 9:00 am ET


TUCSON, Ariz.--(BUSINESS WIRE)--Aug. 3, 2005--Fidelis Energy Inc. (OTCBB: FDEI - News), today reports that the July gas production at the "Archer-Whitney #1" well at the company`s North Franklin gas reservoir totaled 46.212 Mmcf for the 31 days in July. The average daily production was 1.49 Mmcf per day.
The well has exhibited stable production at these rates since the onset of production in March 2005. Now that the second well has been drilled and the partners have gained important information on the reservoir integrity, the operator has indicated that the gas flow rates at the "Archer-Whitney #1" well can be safely increased. Fidelis will report when this occurs and update rates when available.

As reported yesterday, the completion program at the "Archer-Wildlands #1" well is ongoing and the company will report on all developments when information is received from the operator.

Fidelis receives PGE-Citygate gas pricing from North Franklin production, which on Aug. 1 was in the $7.14 per Mcf range. NYMEX natural gas futures have risen to between $8.15 and $9.54 for 2005-2006 giving Fidelis an indication of what the revenue from upcoming gas production may be in the near future.

About Fidelis Energy Inc.

Based in Tucson, Ariz., Fidelis Energy is an oil and gas company dedicated to solving North America`s complex energy problems. Fidelis Energy identifies, acquires and develops working interest percentages in smaller, underdeveloped oil and gas projects in California, Canada, and other promising locales that do not meet the requirements of larger producers and developers. Through the use of modern development techniques such as horizontal drilling and 3-D seismic, the company enhances production from underdeveloped and underutilized projects, as it pursues oil and gas production throughout North America.

Safe Harbor for Forward-Looking Statements

Except for statements of historical fact, the information presented herein constitutes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include general economic and business conditions, the ability to acquire and develop specific projects, the ability to fund operations and changes in consumer and business consumption habits and other factors over which Fidelis Energy Inc. has little or no control.

For more information, please visit our Web site at www.FidelisEnergy.com, or contact:

Investor Relations, 888-894-3334 (Contact: William Marshall)



--------------------------------------------------------------------------------
Contact:
Fidelis Energy Inc., Tucson
William Marshall, 888-894-3334 (Investor Relations)
www.FidelisEnergy.com



--------------------------------------------------------------------------------
Source: Fidelis Energy Inc.

[wayne99]

Nicht übel

FDEI.OB 3:37pm 0.42 +0.05 +13.51% 0.39 - 0.42 516,185

[wayne99]

Press Release Source: Fidelis Energy, Inc.


Fidelis Begins Commercial Production at the ``Archer-Wildlands #1`` Gas Well
Monday August 8, 9:00 am ET


TUCSON, Ariz.--(BUSINESS WIRE)--Aug. 8, 2005--Fidelis Energy, Inc. (OTCBB:FDEI - News), today announces the commencement of commercial gas production at the "Archer-Wildlands #1" well on the Company`s North Franklin Project, Sacramento, California.
The well was successfully completed in the Winters pay zone, following which the well was connected to the existing pipeline infrastructure. The analysis of the gas returned a value of 945 B.T.U, in keeping with the gas value being produced from the "Archer-Whitney" well.

The "Archer-Wildlands #1" well has been initially brought online at a rate of 1.0 Mmcf per day. This I.P.R. (initial production rate) will be closely evaluated by the operator and stepped up over time once stable rates are achieved.

Now that this second gas well has been put into production, the partners are gaining important information on the North Franklin gas reservoir integrity. As a result, the operator has stated that gas flow rates at the "Archer-Whitney #1" well can be safely increased. Fidelis will shortly report updated production rates from the well when they are made available to the Company.

Fidelis receives PGE-Citygate gas pricing from North Franklin production, which on August 5th was in the $7.60 per Mcf range. NYMEX natural gas futures have risen to between $8.47 and $9.67 for 2005-2006 giving Fidelis an indication of what the revenue from upcoming gas production may be in the near future.

ABOUT FIDELIS ENERGY INC.

Based in Tucson, AZ, Fidelis Energy is an oil and gas company dedicated to solving North America`s complex energy problems. Fidelis Energy identifies, acquires and develops working interest percentages in smaller, underdeveloped oil and gas projects in California, Canada, and other promising locales that do not meet the requirements of larger producers and developers. Through the use of modern development techniques such as horizontal drilling and 3-D seismic, the company enhances production from underdeveloped and under-utilized projects, as it pursues oil and gas production throughout North America.

Safe harbor for Forward-Looking Statements:

Except for statements of historical fact, the information presented herein constitutes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include general economic and business conditions, the ability to acquire and develop specific projects, the ability to fund operations and changes in consumer and business consumption habits and other factors over which Fidelis Energy, Inc. has little or no control.

For more information, please visit our website at www.FidelisEnergy.com, or contact: Investor Relations, 1-888-894-3334, (Contact: William Marshall).

ON BEHALF OF THE BOARD
Fidelis Energy Inc.
William Marshall -- President



--------------------------------------------------------------------------------
Contact:
Fidelis Energy, Inc.
William Marshall, 888-894-3334 (Investor Relations)



--------------------------------------------------------------------------------
Source: Fidelis Energy, Inc.

[wayne99]

Press Release Source: Fidelis Energy Inc.


Fidelis Reports That `Archer-Whitney #1` Gas Well Increased to 1.8 Mmcf Per Day
Wednesday August 10, 9:00 am ET


TUCSON, Ariz.--(BUSINESS WIRE)--Aug. 10, 2005--Fidelis Energy Inc. (OTCBB: FDEI - News) today announces that the daily gas production at the "Archer-Whitney #1" well at North Franklin has been stepped up to 1.8 Mmcf per day, and is capable of going higher.
The operator`s goal is to move the production rate up to 2 Mmcf per day over the next few weeks and will be undertaking further increases of the gas flow rates over time. After each increase of the production rate, an evaluation period will be required to assess the well pressures, performance and to maintain reservoir integrity. The combined production from the "Archer-Whitney #1" and the "Archer-Wildlands #1" as of today is 2.8 Mmcf per day.

Fidelis receives PGE-Citygate gas pricing from North Franklin production, which on Aug. 8 was $8.02 per Mcf. NYMEX natural gas futures have risen to between $8.68 and $9.91 for 2005-2006, giving Fidelis an indication of what the revenue from upcoming gas production may be in the near future.

About Fidelis Energy Inc.

Based in Tucson, Ariz., Fidelis Energy is an oil and gas company dedicated to solving North America`s complex energy problems. Fidelis Energy identifies, acquires and develops working interest percentages in smaller, underdeveloped oil and gas projects in California, Canada, and other promising locales that do not meet the requirements of larger producers and developers. Through the use of modern development techniques such as horizontal drilling and 3-D seismic, the company enhances production from underdeveloped and underutilized projects, as it pursues oil and gas production throughout North America.

Safe Harbor for Forward-Looking Statements

Except for statements of historical fact, the information presented herein constitutes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include general economic and business conditions, the ability to acquire and develop specific projects, the ability to fund operations, and changes in consumer and business consumption habits and other factors over which Fidelis Energy Inc. has little or no control.

For more information, please visit our Web site at www.FidelisEnergy.com, or contact:

Investor Relations 888-894-3334 (Contact: William Marshall)



--------------------------------------------------------------------------------
Contact:
Fidelis Energy Inc., Tucson
William Marshall, 888-894-3334 (Investor Relations)
www.FidelisEnergy.com



--------------------------------------------------------------------------------
Source: Fidelis Energy Inc.

[wayne99]

Form 10QSB for FIDELIS ENERGY INC


--------------------------------------------------------------------------------

12-Aug-2005

Quarterly Report



ITEM 2. MANAGEMENT`S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION
This discussion should be read in conjunction with Management`s Discussion and Analysis of Financial Condition and Results of Operations in the Company`s annual report on Form 10-KSB for the year ended December 31, 2004.

PLAN OF OPERATION

On April 7 Fidelis Energy, Inc. announced that the Company has executed an Authority for Expenditure (A.F.E.) for the "Archer-Wildlands #1" gas well, the next well planned under the overall development plan for the North Franklin Project. Fidelis advanced funds in full to the operator totaling $133,000 for the Company`s 35% working interest cost of the well to completion. The "Archer-Wildlands #1" well is licensed, permitted and the well site preparations are ongoing. Fidelis

expected a tentative spud date upcoming later this month, dependent on ground conditions. A drill contract has been signed and a drilling rig has been secured for the well. The third and fourth wells into the field will be sited and permitted upon receipt of information from the 2nd well that should yield trend data as to sand thickness, porosity and permeability. In regards the Archer-Whitney #1, the well was recently tied-in and flowing gas; the operator has indicated that the behind-pipe pressure has been increasing and is above the 2900 psi level and we expect to open up the flow incrementally within the next few days. The Company previously indicated that the development of volume flows for the field is an often a lengthy process which must be undertaken with extreme caution to avoid damaging the reservoir or well. On April 22, the Company was informed that the date has been set for the spud of the Archer-Wildlands #1 well. The drilling was planned to commence in the first week of May. The Archer-Wildlands #1 is the second in a series of natural gas wells to be drilled during 2005 under the overall development plan for the North Franklin gas reservoir. Fidelis announced it would be receiving the first full month natural gas production totals from the "Archer-Whitney #1" well that was put into commercial production March 21st. The Company will have had one full month of gas production and sales by April 25th and will report the figures when received in full from the operator.

On April 25, Fidelis reported on the success at the North Franklin "Archer-Whitney #1" well. The Company has completed its first full month of production at the North Franklin Gas Field from its "Archer-Whitney #1" well. The average daily gross earnings for the well amounted to roughly $11,000.00 per day, or $330,000 in total for all partners. The initial gas production flow rates averaged 1.4 Mmcf per day over the month. This is the first of six wells planned to be drilled into this reservoir on the leases. The well has now settled and matured to the point that the operator intends to open the choke in the coming weeks to accommodate the high tubing and casing pressures and increase gas flow. Fidelis is very happy with the ongoing developments as everything is proceeding as planned under the prudent guidance of the operator and Company. The operator of the project has choked down and metered the flow and will be increasing the gas flow in small increments. The operator`s advice to the Company is to be prudently cautious in these early production days and not to be overzealous in rapidly increasing the flow rates. The operator has now indicated that the behind- pipe pressure has been stabilizing and Fidelis can now report that the plan is to safely open up the flow incrementally at stepped rates. The operator and Company have been cautious with this initial period as the well was put online, working in a slow and methodical fashion to ensure that the reservoir is developed properly. The well will continue to be opened up until the stabilization of bottom-hole pressure.

On May 17, Fidelis announced that the Company has received the resignation letter from Mr. Dan Hodges, President effective May 31, 2005, to pursue other interests. Fidelis is now pleased to welcome Mr. Brian Wildes and Mr. William Marshall to the Company. Mr. Brian Wildes joins the Fidelis team with initial responsibilities as Engineering Consultant, directly responsible for the overseeing of all oil and gas operations at North Franklin, Joarcam, and Comanche Point as well as other projects. Mr. Wildes is an oil and gas professional with over 40 years experience. Based in Dallas Texas, Mr. Wildes and family have been in the oil business for three generations. Mr. Wildes has extensive experience in all facets of the industry beginning in the oil fields in South Texas at an early age. He was actively involved in the exploration for oil and gas in Oklahoma and Texas from the years 1980 through 1990 while the managing partner for Neitzel Wildes Investment Co. From 1980 through 1984, he managed Neitzel Wildes (Dallas, TX) capital markets activities spending substantial time working with investment firms in Denver that sponsored oil and gas drilling programs partnering with regional oil companies. Mr. Wildes managed a major oil operation near Big Springs, Texas from 1980 through 1992, doubling the overall production. Mr. Wildes has been

heading a "Lease Bank" for various geologists since 1985. As a lease bank, he financed the shooting of a major 3D Seismic project in Louisiana which resulted in the drilling of many wells. He also leased banked exploration in South Texas, East Texas, Mississippi, and Oklahoma. Recently, he created Wildes Exploration in 2004 to explore for oil in Oklahoma and Kansas utilizing proprietary and new state of the art technologies resulting in the drilling of 5 exploratory wells in southwest Oklahoma. Mr. Wildes brings to Fidelis his wealth of experience and access to potentially new and exciting oil and gas projects.

Fidelis is also pleased to announce that Mr. William Scott Marshall has agreed to join the Board of Directors as President of Fidelis. Mr. Marshall is a financial consultant with over 15 years of venture capital experience in private and public companies. Mr. Marshall is one of the founders of the Company and remains Fidelis single largest shareholder.

With an extensive history in natural resource markets and high-tech, Mr. Marshall brings a wealth of experience to Fidelis in the form of financings, corporate filings, management, and company structure from his duties with over ten public companies. Mr. Marshall was responsible for bringing the Alberta and California projects to Fidelis. He has served on five public company boards as a director, with duties ranging from Chairman and President, to Chief Executive Officer and Corporate Secretary.

Fidelis C.F.O, Mr. Sterling Klein states, " The addition of Mr. Wildes and Mr. Marshall to our Company will strengthen the oil and gas management and financial aspects of the business. We wish to thank Mr. Hodges for his past role and wish him the best in future endeavours."

Mr. Klein has a long career as an oil and gas professional. As an accounting professional with an outstanding record of accomplishment in corporate financial analysis and administration, Mr. Klein brings extensive oil and gas financial experience to the Company. He has held various accounting and analyst positions in the petroleum industry working with energy majors Shell and Chevron. In addition, Mr. Klein has over 10 years experience as a financial management and administrative consultant for various private and public companies. Mr. Klein holds a degree in finance and accounting, along with certificates in securities and real estate finance.

In other news, Fidelis has received notice from the operator of the Hidalgo project of the intention to plug and abandon the well. Following an extensive completion program, the Frio sands that initially flowed on tests of up to 750mcf/day, appear to be depleted or water filled. Fidelis plans to execute this plan immediately and will work with Miramar Petroleum on future plans in the Hidalgo-MacAllen area of Texas.

At the Company`s Comanche Point heavy oil project south of Bakersfield, the Fidelis funded $250,000 steam flood pilot study has been completed. The results have provided important information as to the recommendations by the operator. Wells steamed responded poorly to moderately but some flow rate increases were seen. It is suggested that a wet zone within the wide sections of sands tested is taking up the steam and even distribution of heat did not occur. As most well are very old, the logs and data are only marginally useful thus the operator has recommended a $300,000 program of drilling 3 wells, taking well wall cores, and doing modern down hole evaluation logging to ascertain which of the sands to selectively steam. Meanwhile, 15 wells continue to produce several barrels per day each and revenue is being generated on a monthly basis covering operating expenses. Fidelis will rely on input from its new consultant as to how to proceed.

On May 25 Fidelis announced that the Company has begun discussions with Silver Star

Energy, Inc. regarding the possible future amalgamation of the two companies. Fidelis and Silver Star currently have common working interests in various oil and gas projects and the amalgamation of these interests would provide a larger and stronger entity for future growth. Oil and gas sector growth occurs by either merger or "growth by the drill bit" and Fidelis is positioning itself to consider both these options. The proposed amalgamation would combine all assets of both oil and gas companies into one entity, which would then have in the portfolio a combined working interest in 5 projects, these being North Franklin, Joarcam, Comanche Point, Evi and Verdigris Lake. The recent management changes of Fidelis have brought new strength of both corporate and oil and gas expertise and Fidelis has approached Silver Star with this proposal.

The amalgamation of the aforementioned assets and individual company working interests would be based on "fair market opinion" provided by third party arms length reservoir engineering. The companies have now commissioned these reports on the various projects as a valuation of assets as a precursor to formal negotiations regarding the possible new structure of the amalgamated companies. Fidelis anticipates that discussions and negotiations will be ongoing over the next several months and will endeavor to provide regular updates on this corporate development as well as current operations.

On May 26 Fidelis announced details of the deep gas potential in the Forbes (F-zone) at the Company`s North Franklin gas reservoir, Sacramento Basin California. North Franklin is situated in the southern Sacramento Basin of California between the cities of Sacramento and Stockton that has produced in excess of 9 Tcf of gas. The deep Forbes F-zone has the potential to contain 60 Bcf gas. Combined with the producing Winters, North Franklin now has the potential to contain in excess of 100 Bcf gas. The Deep Forbes F-zone lies beneath the younger Winters sand that is currently producing from the "Archer-Whitney #1 well" and will be drilled by a second well named "Archer- Wildlands". After an aggressive land-leasing program by the partners over the last year, the North Franklin Project has now, under lease, 3,465 gross acres.

North Franklin deep F-zone has approximately 1,200 acres of structural and stratigraphic closure based on mapping of the seismic anomaly. It is defined by regional well control and 2-D seismic data from three seismic lines. The strong AVO anomaly present indicates that gas may be present. The prospect potential is based on net pay averaging 50 feet over this closure and recovery factor of 1,000 Mcf per acre foot. The prospect reserves are estimated at 60 Bcf of gas. Gas quality is anticipated to be greater than 900 Btu. The nearest F-zone production at the Clarksburg gas field, located with in five miles of the prospect, is 930 Btu. Gas is expected to be contained in permeable, Upper Cretaceous, deep-water F-zone sandstones that are of equivalent age to sandstones that are the major producing zones in the northern portion of the Sacramento Valley. An estimated 75 feet of net reservoir sandstones are expected to be present in the upper and middle F-zone fans at the proposed test location. Equivalent Forbes sandstones are the chief producing gas reservoirs in the northern Sacramento Valley having produced in excess of 2 Tcf of gas. Drill depth through the prospective upper and middle fans at North Franklin Deep is 11,000 feet. The well would offset the productive upper Winters sand discovered in 2004 and penetrate the both the upper and middle F-zone fans at a structural favorable position. In the event that the F-zone is not productive at this location, the well could be put into production from the Winters sands. The 11,000 foot well is estimated to cost $1.5 million and Fidelis has a 35% working interest in the project. The North Franklin partners are planning to drill the test well in Q3-4 2005.

In other news, the Company updated the drilling timing of the Archer-Wildlands #1 well, the

second well at the North Franklin project. Fidelis now expects the well to be spudded in early June. The timing of drilling is always approximate, as all companies must line up in a drilling schedule that varies and is subject to change as to when the rig is released following drilling jobs. Fidelis has always reported when the rig was expected and anticipated using the best information it has at that time. Fidelis has paid in full for the cost of drilling "Archer-Wildlands #1" and has been informed by the operator that all required site preparations and permitting is complete. In addition, facilities are already in place to tie-in the gas immediately on well completion and no further permitting delays will occur as happened with the initial well.

On June 2 Fidelis announced the April and May 2005 production totals for the "Archer- Whitney #1" well and updates operations at North Franklin. The natural gas production is sold into the pipeline where Fidelis receives PG&E Citygate pricing for the gas. Since full production began on March 23rd to the most recent data received by the Company on May 31 the "Archer-Whitney #1" well has produced 98.5 Mmcf gas in 70 days at an average rate of 1.41 Mmcf per day. Total production to date has generated $591,000 to the partners. Production by month has been 13.5 Mmcf in 9 days of March, 41.2 Mmcf for April and 43.8 Mmcf for May.

The operator of the project had intended to increase the flow rate to 2.5-3.0 Mmcf per day, but has maintained a choked back gas flow since the onset of production only increasing the gas flow in small increments. The latest project update at the well is that, under advice from the operator, gas flow now will remain choked back to between 1.75 Mmcf and 2.0 Mmcf per day until the second well is drilled and completed. As reported earlier, Fidelis anticipates a spud date to be announced shortly in June. With more information provided from the second well, this will provide important geological and reservoir data and confidence that detriment will not be done to the reservoir prior to opening up the well to its fullest capacity. North Franklin is a new reservoir discovery and time will be required to evaluate the full potential of the gas field. Fidelis expects that in time, production rates will meet original expectations of 4-5 Mmcf per day.

The well is currently producing between 1.5-1.6 Mmcf per day from the latest numbers received by Fidelis. The operator`s advice to the Company is to be prudently cautious in these early production days and not to be overzealous in rapidly increasing the flow rates to maintain the integrity of the reservoir until more information is available. Fidelis will now announce gas production totals and rates on a monthly basis, or more frequently when warranted.

On June 20 Fidelis announced the preparations to spud the "Archer-Wildlands #1" well at the North Franklin Project in the Sacramento Basin of California. This is the next gas well to be drilled under the overall development plan for the North Franklin Project. The well location is an offset to the "Archer-Whitney #1" well that has been in production since March 2005. The drilling rig is currently being mobilized to the North Franklin site. After rig up, it is anticipated that drilling to the 8,000 foot depth should take 8-10 days following which, the well will be completed and tied-in to the pipeline. Fidelis anticipates a spud date of the well to be on June 21 or 22. On June 27 Fidelis announced "Archer-Wildlands #1" well had spudded and is drilling ahead at the North Franklin Project, Sacramento Basin of California. The well was spudded on June 25th is a close offset to the "Archer-Whitney #1" well that has been in production since March 2005. This is the second gas well to be drilled in the North Franklin gas reservoir under the 2005 development plan. The Company is optimistic that the Winters sand gas pay zone will be thicker at this location than the "Archer-Whitney #1" well, based on 2D seismic and geological mapping of the formation. Drilling to the 8,000 foot depth should take 8-10 days following which, the well will be completed and tied-in to the pipeline.

SUBSEQUENT EVENTS

On July 5, Fidelis announced the June gas production at the "Archer-Whitney #1" well at the Company`s North Franklin gas reservoir totaled
44.859 Mmcf for the 30 days in June. The average daily production was 1.50 Mmcf per day. The second well, "Archer-Wildlands #1" today is nearing, and should reach the total depth of 8,000 feet. The Company expects that the well is to finish this evening and a suite of well logs will be run and available for review on July 6th. Fidelis will endeavor to report drilling results as soon as they are available.

On July 18, after a short drilling delay Fidelis announce that the "Archer-Wildlands #1" gas well at the Company`s North Franklin Project reached a total depth of 7,736 feet on June 15. The Winters sand pay had excellent gas shows in the mud log and the suite of Resistivity and Sonic electronic logs showed clean sand pay with 100% gas fill-up within the pay zone. The intersected sand pay exceeds in thickness what is producing at the "Archer-Whitney" well. A casing election was immediately made and the Company is pleased to report that the well is now cased to depth with production casing. Fidelis and partners are now preparing to complete the well and the operator is preparing a perforation plan to be implemented during the well completion phase. Of note, is that the gas gathering line and tie-in to pipeline have been constructed at the Wildlands location. Now all that will be required is to install a gas-flow meter following the perforation and completion program. The well can be tied-in to the pipeline with no delays, such as occurred with the initial pipeline construction. The operator has called for a completion rig and Fidelis will report on timing when the rig becomes shortly available. It is estimated that the completion phase of the well that includes will occur over the next 2 weeks.

RESULTS OF OPERATIONS

The Company has had only limited operations, and has realized only limited revenues from the sale of oil from the Comanche Point Field. The Company has realized a net loss from operations of $672,225 since inception due primarily to legal, accounting and management fees necessary to bring the Company through the development stage to become a producer of oil and gas.

The Company had selling and marketing expenses from continuing operations of $21,938 and $29,665 for the six months ended June 30, 2005 and 2004. General and administrative expenses were $116,386 for the six months ended June 30, 2005, which consisted mainly of officer wages and consulting expense compared to $234,477 for the six months ended June 30, 2004.

LIQUIDITY AND CAPITAL RESOURCES

Cash and cash equivalents from inception to date have been insufficient to provide the operating capital necessary to operate the Company. The necessary capital to operate the Company was initially provided by the principals and founders of the Company in the form of both debt and capital stock issuances as set forth in the financial statements incorporated herein. In the third quarter, the proceeds necessary to operate the Company and provide for acquisition capital came from the proceeds of loans and a credit line as previously disclosed.

In summary, there has been an absence of liquidity and capital resources to operate the Company self-sufficiently. Such inadequacy will continue until the sale of gas from the tie-in of either the Archer-Whitney #1 well or the Hidalgo well, at which time the Company anticipates

adequate revenues to operate the Company and experience profitable operations. Adequate operational income is anticipated to begin in late March 2005.

The Company recorded a net loss from operations of $49,934 for the six months ended June 30, 2005 compared to a net loss of $269,429 for the same period in 2004. Decrease in the net loss is attributable to production revenues from the Company`s oil and gas leases.

EMPLOYEES

As of June 30, 2005, the Company had two employees, the President and Secretary/Treasurer.

[wayne99]

Press Release Source: Fidelis Energy, Inc.


Fidelis Acquires Interest in Large Kansas Oil and Gas Project
Monday August 15, 9:00 am ET


TUCSON, Ariz.--(BUSINESS WIRE)--Aug. 15, 2005--Fidelis Energy, Inc. (OTCBB:FDEI - News), today is pleased to announce that the Company has executed a memorandum of understanding (M.O.U.) to acquire a 25% working interest from private company in a very prospective Kansas oil and gas play. Fidelis will be signing formal contracts and a joint operating agreement (J.O.A.) shortly.
Fidelis and partners have now acquired participation rights in a large database that includes a geophysical survey encompassing approximately one million acres, located in central Kansas, covering parts of Ellsworth, Salina, McPherson, Reno, Harvey, Kingman, and Sedgwick counties. Total cumulative oil production through 1999 from these counties is more than 978 million barrels of oil.

The geophysical survey utilized RAM technology owned by Paramount Energy Corp., which is a geophysical methodology used to highlight oil and gas deposits. Unlike 2-D and 3-D seismic methods, which gather information based upon artificially induced sonic responses recorded at the surface, RAM technology identifies "unique bright spots" using its proprietary software to process certain aspects of the earth`s magnetic field data.

Data is collected by a low flying aircraft equipped with specialized equipment and then analyzed by RAM software. These "unique bright spot" anomalies can be correlated to near-surface alterations caused by the slow geochemical processes that occur over both oil and gas deposits. The RAM technology is an indirect hydrocarbon indicator independent of structure so it is a good tool in areas where seismic is not. Since RAM data is collected from an aircraft, large acreage surveys can be acquired many times faster and for much less cost than traditional seismic. This makes RAM an ideal first reconnaissance tool.

Several identified RAM anomalies interpreted within the survey area are believed to have hydrocarbon potential over multi-sections of lands that have never been tested with a drill bit. Most nearby production within this region of the Central Kansas Platform produces from Mississippian age and older limestone rocks above the Arbuckle dolomite formation. Some of the accumulations of hydrocarbons are stratagraphically trapped and unrelated to structure and therefore not easily identifiable by traditional seismic. The magnetic survey and interpretation of the region is of excellent quality.

Oil wells will be drilled to test the most promising prospects to the deepest known petroleum formation, the Arbuckle, generally less than 4000` in depth in the Central Kansas Platform. Drilling costs have been estimated to be in the order of $200,000 for a cased and completed well.

The Central Kansas Platform covered by the survey and interpretation contains some of the most prolific production from shallow depths in that part of the country. There are many established oil fields within the boundaries of the survey area. The survey indicates "bright spots" that could be hydrocarbon accumulations not yet discovered by traditional seismic or other older exploration technologies. Multiple prospects are expected to be generated after more extensive field tests.

Fidelis and partners are proceeding to further evaluate the most prospective oil and gas drill targets utilizing complimentary geochemical and geophysical methodologies in their field testing. The operator will then recommend leases for acquisition and the exploration program will commence.

Fidelis, with a 25% working interest, will be participating in a joint venture with other working interest partners, which includes Silver Star Energy, Inc. The private company will be carried through the drilling and completion of the first two (2) exploratory wells. The 70% joint venture working interest partners will pay 100% of the costs of drilling and completing the initial two wells. Subsequent to those first two wells, all participants in the play will contribute on a straight up working interest basis.

ABOUT FIDELIS ENERGY INC.

Based in Tucson, AZ, Fidelis Energy is an oil and gas company dedicated to solving North America`s complex energy problems. Fidelis Energy identifies, acquires and develops working interest percentages in smaller, underdeveloped oil and gas projects in California, Canada, and other promising locales that do not meet the requirements of larger producers and developers. Through the use of modern development techniques such as horizontal drilling and 3-D seismic, the company enhances production from underdeveloped and under-utilized projects, as it pursues oil and gas production throughout North America.

Safe harbor for Forward-Looking Statements:

Except for statements of historical fact, the information presented herein constitutes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include general economic and business conditions, the ability to acquire and develop specific projects, the ability to fund operations and changes in consumer and business consumption habits and other factors over which Fidelis Energy, Inc. has little or no control.

For more information, please visit our website at www.FidelisEnergy.com.



--------------------------------------------------------------------------------
Contact:
Fidelis Energy, Inc.
William Marshall, 888-894-3334 (Investor Relations)



--------------------------------------------------------------------------------
Source: Fidelis Energy, Inc.